Petrol Prices May Go Up Again From November Due To Falling Rupee

(@FahadShabbir)

Petrol prices may go up again from November due to falling rupee

The government increased per litre cost of petrol by Rs10. 49  and high-speed diesel by Rs 12.44 for the next fortnight last week.

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-Oct 26th, 2021) Petrol prices are likely to go up again due to continuous fall of local Currency against the US Dollar, the latest reports said.

The prices may be increased from November 1.

Oil Marketing Companies (OMCs) have also hinted at increasing POL prices again, saying that Rs 7 increase is expected from the next month. The industry experts say that diesel price may go up to Rs 9 per litre. They also believe that fluctuations in the imported oil prices during the next five days may fix the final prices.

The increase in POL products was notified a day after the government increased the power tariff by Rs1.39 per unit which would come into effect from next month.

According to a notification issued by the Ministry of Finance, the price of kerosene oil had been increased by Rs10.95 per litre while light speed diesel had got costlier by Rs8.84 per litre.

Last week, the government announced a massive price hike in petroleum products, increasing the per litre cost of petrol by Rs10.49 and high-speed diesel by Rs12.44 for the next fortnight on October 16.